Leoni buys tiny rival for undisclosed sum

Newswire

FRANKFURT, June 28 (Reuters) - German automotive supplier Leoni will acquire neumatic Elektronik + Kabeltechnik GmbH & Co. KG effective July 1 for an undisclosed sum, the company said on Tuesday. Neumatic generated sales of roughly 10 million euros ($12.2 million) in 2004 and employs a staff of around 200 workers. Leoni, a specialist for wires, cables and wiring systems, generated total sales of 1.25 billion euros in 2004.

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